Martin Shkreli

Robert Deutsch-USA TODAY

'Pharma Bro' Martin Shkreli Moves To Low Security Prison In New Jersey

April 19, 2018 - 8:56 am

FORT DIX, N.J. (WCBS 880) -- Martin Shkreli has been moved to his new home at a low-security federal prison in New Jersey.

The so-called "Pharma Bro" was sentenced last month to seven years in prison for securities fraud.

The 35-year-old was moved Tuesday from the Brooklyn Metropolitan Detention Center to the Federal Correctional Institution at Fort Dix. 

According to the facility's handbook, which is posted on its website, "there are no bars, towers, or locks on rooms" and "inmates must demonstrate a high degree of responsibility, and the expectations are that each inmate will comply."

Shkreli was convicted in August of cheating investors in two failed hedge funds.

He is notoriously known for raising the price of a life-saving drug as a pharmaceutical executive.